New Strategies to Improve Banking Resiliency

Whitepaper Series

 

How to drive productivity, reduce risk, enable digital and help teams and their leaders organize for success

By Nigel Adams, Banking Expert and Director at Hetton Advisory 

 

Banking resiliency has come a long way since the global financial crisis of 2008. As well as repairing bruised and battered balance sheets, banks around the world have had to deal with far greater regulatory intervention, rapidly evolving customer and community expectations, shrinking margins in a low-interest world, an onslaught of innovation sparked by new competitors from the FinTechs to the global Tech giants and, to cap it all, a global pandemic. 

 The scale of change is overwhelming. The industry response has been transformed at an unprecedented level. Irrespective of geography, large, mature banks are grappling with transformation on multiple fronts: 

  • Digital transformation
  • Risk and compliance transformation
  • Customer journey transformation
  • Operational excellence transformation
  • Organizational transformation

Previously, delivering any one or two of these programs would have presented a significant challenge. Today, there is an urgency to deliver all five  concurrently. To cope, banks have turned to new ways of working, bringing with them new toolsets and technologies. 

While many banking executives are familiar with technologies like Cloud, APIs, Chatbots, Robotics and AI/ML, process mining is only just starting to emerge as a toolset destined to play a significant role in supporting banks on their relentless transformational journeys. 

Over the upcoming months, in cooperation with Apromore, a company focused on making process mining techniques accessible to business decision-makers – I will share a series of 5 articles outlining just how this cuttingedge technology can help transformation leaders in banks focus on the customer, drive productivity, reduce risk, enable digital and help teams and their leaders organize for success. 

The potential for process mining to make a real difference to banking performance is significant. If you’d like to learn some more about specific use cases that align with the current banking transformation agenda, please register for the series here: (URL to be created). You will be automatically emailed each article as it publishes.

 

Nigel Adams is banking expert, who has nearly 25 years of experience focused on creating enterprise value from operational improvement, risk management and performance optimization. In addition to a consulting career at KPMG, he has brought his skills to bear for leading banks, including NAB and ANZ, focusing on global payments and cash operations, financial crime and business performance 

 

Operational Excellence in Banking

 

Banks are under immense financial and competitive pressure right now. One response sees banks reaching for digital transformation on various levels. To successfully manage this change process, banks need to make use of sustainable operational excellence as the underlying foundation of it all. As part of the sustainability, service and quality cannot be treated as trade-offs, posing new challenges. 

In collaboration with Nigel Adams, Director of Hetton Advisory and banking expert, we walk you through the operational excellence pathway. Download the first whitepaper of our new banking series to lay the groundwork while diving into how process mining allows banks to accelerate the time-to-value as well as enhance outcomes. 

Key Takeaways

  • Get a feeling for sustainable operational excellence and discover how it is supported by process mining. 
  • Even a re-engineered process, that is built on the same technology stack, is hard to automate tactically end-to-end. Learn what you can do to overcome such challenges.  

Download

 

 

 

 

 

Digital Transformation in Banking

 

New realities of evolving customer demand and behavior are driving banks to redesign their processes and digitize on their road to full digital transformation. This change process can be daunting, fraught with risk and expensive. Process mining offers a fast and easy way to understand the current process landscape while providing analysis capabilities to create the digital future of banks.  

In collaboration with Nigel Adams, Director of Hetton Advisory and banking expert, we take you through the transformation process of banks and elaborate on how process mining can accelerate this journey. Download this next white paper of the series to dive into the digital transformation in banking.  

Key Takeaways

  • Discover how discovered process models can be used in digital transformation initiatives in banking 
  • Learn how process mining allows you to test customer migration strategies 

Download

 

Operational Risk in Banking

 

Volatile markets and the high complexity of fragmented processes and legacy applications put immense pressure on risk professionals in the banking sector. Process mining can help to reduce this pressure and allow risk professionals to focus on what really matters. Improved alignment between risk and operations functions and richer insights into the control environment are just some benefits.  

In collaboration with Nigel Adams, Director of Hetton Advisory and banking expert, we take you through the transformation process of banks and elaborate on how process mining can accelerate this journey. Download the whitepaper on operational risks in banking to learn more about how risk management professionals and auditors can enhance their insights with real process data.  

Key Takeaways  

  • Learn how you can speed the discovery of root cause analysis, identification of errors and omissions for faster mitigation with process mining.  
  • Discover the potential of process mining in relation to risk management and continuous monitoring.  

Download

 

 

Stay tuned for more.

 

 

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